Most people make New Year’s resolutions at year end to look forward to a better New Year. They make these resolutions concerning their personal health and bad habits but never concerning their financial health and bad financial habits.

Different countries have different savings schemes for their people. Many countries have voluntary or enforced retirement savings schemes. Since 1992, the government of Australia has introduced several schemes for retirement income and investment in the benefit of Australian citizens. Out of these several schemes, the “Self-Managed Superannuation Fund Scheme (SMSF)” is the largest by value and most popular among all. And this New Year, Befree Super, a leading SMSF compliance management firm of Australia, is offering a FREE set up of new SMSFs. This offer is for a limited time only. The best part about this offer is you get this service for FREE by SMSF experts and specialists.

According to the company’s Sales Manager, while many superannuation arrangements in Australia are mandatory, there are several voluntary savings and investment schemes. Self-Managed Super Funds are one such scheme whereby a group of individuals or corporate bodies can set up and operate Self Managed Superannuation Funds under a trusteeship structure.

Now, the rules for setting up of new SMSFs in Australia are simple wherein the group is required to form a trust, open a bank account and register the SMSF with the ATO – Australian Tax Office. ATO is the regulatory body that enforces SMSF rules and regulations, collects taxes and ensures SMSF compliance.

According to company sources, SMSFs make up 25% of the total superannuation industry in Australia, which makes it a healthy environment for investment through SMSFs.

While formation of an SMSF is easy, running it can be scary due to strict ATO rules on investment and compliance. SMSF compliance can be a complicated and a tedious process. Self-Managed Super Fund trustees are responsible for prudent management of funds and investment decisions. They are also required to have the SMSF audited, maintain trustee resolutions & minutes and prepare financial statements and lodge tax returns annually. And if for any reason the trustees are not able to maintain and manage SMSFs as per ATO guidelines, they can approach independent SMSF services that carry out SMSF compliance for monthly or yearly retainer fees.

Befree Super is an independent agency of Australia that provides SMSF compliance, accounting, auditing and tax services nationally. Befree Super is a CPA firm and Registered Tax Agent and hence authorised to handle clients’ financial matters with the Australian Tax Office. Free SMSF Setup is a great offer made by BeFreeSuper. The expert team of SMSF specialists will work out everything for you to set up your new SMSF account for Free! For more information, visit http://befreesuper.com.au/